Acquisition

RNS Number : 4052H

Intertek Group PLC

12 March 2018

 

INTERTEK ACQUIRES ALDO ABELA SURVEYS (AAS) Intertek Strengthens Services with Acquisition of Cargo Inspection Specialist in the Mediterranean

12 March 2018

Intertek Group plc ('Intertek'), a Total Quality Assurance provider to a range of industries worldwide, is pleased to announce that it has acquired Aldo Abela Surveys (AAS) Limited, a leading provider of quality and quantity cargo inspection services, based in Malta.

AAS's service portfolio includes professional and independent inspection services covering custody transfer of liquid cargoes, bunker surveys, loading and unloading operations and bulk cargo inspections. AAS also provides Assurance solutions for cargo damage, blending operations, ship-to-ship transfers, sampling and tank cleanliness certification.

With the long-term growth in global trade flows and an increase in regulatory, safety and environmental requirements, companies are seeking a partner to assist them at every stage of their supply chains to mitigate risk.  The acquisition of AAS leaves Intertek uniquely positioned to provide a Total Quality Assurance service offering to its cargo customers in the Mediterranean region and globally. Intertek Caleb Brett will provide an extensive range of Assurance, Testing, Inspection and Certification services ('ATIC') to optimise quality control and reduce customers' financial, operational and environmental risks.

Intertek Caleb Brett operates a global network of laboratories and has a 130-year track record of performance delivering the highest quality of Inspection and Testing services, with precision, pace and passion to customers with full transparency to minimise risk across their complex supply chains.

AAS is a trusted partner to many international oil traders and operators who rely on its expertise to ensure quality and quantity when trading and transporting high value petroleum cargo movements.

AAS employs 10 people and in 2017 generated revenues of c.€770,000.

André Lacroix, Chief Executive Officer of Intertek, said:

"The acquisition of AAS will expand our quality inspections footprint in the Mediterranean region and will further strengthen Intertek Caleb Brett as the leader in providing Total Quality Assurance to the cargo industry worldwide. We are very pleased to welcome AAS and its highly trained people to Intertek and look forward to seizing the compelling structural opportunities in the industry together."

A video describing how AAS complements Intertek's Total Quality Assurance services, can be viewed at www.intertek.com/investors/

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Contacts

For further information please contact:

Josh Egan, Investor Relations

Telephone: [phone]      [e-mail]   

Jonathon Brill, FTI Consulting

Telephone: [phone]      [e-mail]

About Intertek Total Quality. Assured. Intertek is a leading Total Quality Assurance provider to industries worldwide. Our network of more than 1,000 laboratories and offices and over 42,000 people in more than 100 countries, delivers innovative and bespoke Assurance, Testing, Inspection and Certification solutions for our customers' operations and supply chains. Intertek Total Quality Assurance expertise, delivered consistently with precision, pace and passion, enabling our customers to power ahead safely. Visit www.intertek.com

 

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